When the City of Lafayette California says Green, they are not talking about your lawn!  Nor are they talking about St. Patty's Day!  When the City of Lafayette Says Green, the City is talking about their efforts to become a more sustainable community...

The City of Lafayetteefforts to become a more sustainable community has made an impact on many residents.  In turn, many residents now try to seek out the most green businesses and services.  This phenomenon has put more pressure on Lafayette businesses to become Green! 

Why Become Green?

• Cost savings .
  


• Build customer loyalty.  Consumers are becoming increasingly environmentally conscious and are impressed by businesses with a green conscience .
  


• Preserve the environment by reducing Lafayette businesses' environmental impact

What The City of Lafayette Has Already Done to Become Green

The City of Lafayette, working with The Lafayette Chamber of Commerce to become Green has:

• Started the Lafayette Chamber of Commerce Green Committee to help local businesses save money by adopting green practices and be recognize within the community for their efforts.
  


• Lafayette recently joined a national effort to become a Cool City.  To become a Cool City, the City of Lafayette must calculate the town's carbon footprint, or the annual tons of carbon dioxide emitted, and then work to reduce emissions. .
  


• Is working with Sustainable Lafayette, a network of residents and organizations that learn from each other through an active website about what solutions work best for making our homes, businesses, and community more sustainable.  The Sustainable Lafayette network has monthly get-together with their "Green Drinks" events throughout the Lamorinda area.
  


• The City of Lafayette has started a Lafayette Green Awards program that recognizes outstanding efforts by businesses and residents that contributed to a more sustainable community. 

What Lafayette Businesses Can Do Now to Start Becoming Green

If you are a Lafayette business interested in adopting green practices, you can start by calling Jay Lifson   jay@lafayettechamber.org at the Lafayette Chamber of Commerce.  Green businesses will receive promotion and recognition as special members of our community.  And by all means, consider joining the Lafayette Chamber of Commerce Green Committee.

As you consider becoming a green business in Lafayette, here are 15 Ways to Green your Business (from the Sustainable Lafayette Network)

Use compact fluorescent light bulbs
Turn off lights when not in use
Install reduced flow taps and high-efficiency toilets
Print double-sided
Reduce bag waste by asking customers if they need a bag before assuming they do
Turn computers and other appliances off when not in use
Reduce packaging to ship or offer your products in
Have employees use their own mugs to avoid throwing away disposable coffee cups
Make the effort to remove your business from unwanted catalogs and mailings
Encourage employees to walk, bike, take public transportation, or car-pool to work
Purchase only Energy-Star compliant equipment
Purchase office/printing paper with at least 30% recycled content
Buy local-especially if your business sells food
Use green, non-toxic cleaning supplies
Make sure you are properly recycling

You can find AJ Nisen on Active Rain at Contra Costa California Mortgages.  Call AJ to talk about your Mortgage, Mortgage Rates, Free Credit Report or visit AJ's website to use his mortgage calculator.  
 

Alan 'AJ' Nisen
Mortgage Loan Officer
Lafayette Chamber of Commerce Board Member
Orinda Chamber of Commerce Board Member
Alamo Chamber of Commerce VP
AJ's Email
AJ's Mortgage Website 
AJ's ActiveRain Blog 

My Thoughts on the Direction of California's Housing Market

Well the Olympics are over, the kids are back in school, the Yankees are out of the pennant race, the lending markets are barely functioning, and mortgage lenders are still failing.  Oh bye the way, the Commerce Department has determined a recession will begin by Christmas. 

This summer, the Feds were obsessed with minimizing inflationary fears as the cost of a barrel of oil soared, damping the economy as the Cost of Goods increased.  Maybe the government should get serious about Energy.  If we had spent a $1 Trillion to support development of alternative and renewable energy industries versus trying in insure cheap oil in the Middle East, maybe our long range energy out look as well as our economy would have a bright future by now.

Housing prices nationwide continued to move lower this summer in most markets as sellers gradually came (or were forced) to accept lower price levels.  Buyers were reaping the benefit of today's housing market.  Transaction activity which was still slow over the summer months seems to be increasing as more buyers entered the market.  Hopefully the housing market activity will rise to "normal" again soon.  Price levels may fall another 3% to 10% in many markets before entering a stabilizing phase for several years.  This phase historically has lead to a new "up" cycle. 

Real Estate seems to follows a predictable 20-year pattern, 10 up years followed by 3 down years and then 7 flat years (adjusted for inflation, i.e. 3%-4% annual gains), and then the cycle repeats. The next 6-12 months will likely represent the end of the 3 down years, and then we will be in store for 5-7 flat years or the beginning of the real estate's stabilizing phase. 

This is actually good news.  The American dream is to own a home, not lose a home.  As prices stabilize, sellers and buyers will have more security knowing the value of the commodity they are selling or buying.  No matter what is happening in the market, rates, housing values, etc, people always need to move for one reason or another.  As we enter a stabilizing phase, there will be less inhibition to sell a home because you know its value and will not over-estimate its value (at least not too much) or buying a home because you know it will not lose value.

So, as we end the summer of 2008, as the economy heads for a possible recession, we hope the housing market has or may be turning the corner. 

You can find AJ Nisen on Active Rain at Contra Costa California Mortgages.  Call AJ to talk about your Mortgage, Mortgage Rates, Free Credit Report or visit AJ's website to use his mortgage calculator.  
 

Alan 'AJ' Nisen
Mortgage Loan Officer
Lafayette Chamber of Commerce Board Member
Orinda Chamber of Commerce Board Member
Alamo Chamber of Commerce VP
AJ's Email
AJ's Mortgage Website 
AJ's ActiveRain Blog 

Orinda Neighborhoods:

Orinda is a small upscale community.  The community has almost perfect weather due to its micro-climate.  The micro-climate is defined by a set hills that protects Orinda from the encroachment of ocean fog, but on the other hand, allows the fog to influence Orinda's temperature 10 degrees lower than the hot valley during the hot summer months. 

Why is Orinda so desirable?

• Is it the Culture?
• The Perfect Climate all year around?
• The Highly Rated School Systems where over 95% of the Graduates go to college?
• The Uniqueness of Orinda's urban setting?
• The ease of access to all of the San Francisco Bay Area's Activities?

No matter why Orinda is so desirable, you should check out all the neighborhoods before you purchase a home, your new home in Orinda California. 

Northern Orinda: 

• Orinda Downs / Sundown Terrace / Orinda View are sought after neighborhoods for affluent buyers looking for high-end luxury homes in the Orinda hills.  Sundown Terrace has slightly newer luxury homes.  All areas are convenient to the Bay Area Rapid Transit (BART) system and the Freeway.
  


• Sleepy Hollow is an older area but a highly desirable area in Orinda. . Sleepy Hollow has a history of having the best weather in Orinda. The micro-climate is such that the fog often by-passes this area in Orinda.  For buyers with young children, this area includes Sleepy Hollow Elementary School.  For those who like golf and tennis, The Orinda Country Club is just minutes away.
  


• Claremont / El Toyonal is an older area with small homes that were originally San Franciscan's vacation homes.  The Claremont Area is closer to the valley while the El Toyonal goes up into the hills and borders Tilden Park.  The Wagner Ranch Elementary School is located on the old Wagner Ranch site. 

Central Orinda

• Orinda Country Club Area is another highly sought after neighborhood which surrounds the Orinda Country Club.  The exclusive Orinda Country Club has an challenging Golf Course for the golfer.  Lake Cascade (reservoir) next to the Orinda Country Club is a pretty setting that adds beauty to the area.  Many homes have been here since the 1920's and 30's.  One of the oldest homes is the deLavega estate, a historical landmark, which was built in 1888 by Miguel and Marie LeBreton deLaveaga.  Most homes have been remodeled.
  


• Orindawoods is a plan development of attached town homes and detached single-family homes which appeals to the busy executive.  Orindawoods has an association that runs a community center and a swim and tennis complex.  Homes in this development are close to BART and the freeway with access to all of the Bay Area's activities.

East Orinda

• Charles Hill/St. Stephens Area borders up to Lafayette.  This area has easy access to both Lafayette and Orinda, and to both the freeway and BART.
  


• Tahos:  This area is high in the Eastern Orinda Hills, dotted with many contemporary homes with some traditional and Spanish style homes mixed in. 

West Orinda

• Wilder:  Wilder is located west of downtown Orinda off the Gateway Blvd exit on Highway 24.  The Wilder homes between $2,500,000 and $4,000,000 are currently being built.  Wilder will be "the" affluent neighborhood, the essence of Luxury in Orinda.  Wilder will feature 245 homesites, an extensive network of trails and pathways, a private neighborhood swim and recreation center, five community playfields and over 1,300 acres of dedicated open space connecting to the East Bay Regional Park District.

South Orinda

• Glorietta area is a very popular neighborhood, close to both Orinda and Lafayette, the freeway and BART.  The Glorietta Elementary School is a draw for parents with young children.
  


• Ivy Drive Area is at the south end of Orinda.  Ivy Drive is another desirable neighborhood because it is relativiely flat area and its proximity to both the Orinda Intermediate School and Miramonte High School.
  


• Del Rey Area is at the south end of Orinda next to the Ivy Drive Area.  The Del Rey area is relativiely flat with predominately ranch style homes.  In the Middle of the Del Rey Area is the Del Rey Elementary School.  And above the Del Rey Elementary school is the historic house that Joaquin Moraga built in 1841.

  

  You can find AJ Nisen on Active Rain at Contra Costa California Mortgages.  Call AJ to talk about your Mortgage, Mortgage Rates, Free Credit Report or visit AJ's website to use his mortgage calculator. 
  
  Alan 'AJ' Nisen
  Mortgage Loan Officer
  Board Member on the Orinda Chamber of Commerce
  AJ's Email
  AJ's Mortgage Website 
  AJ's ActiveRain Blog 

  

Is the best way to build home equity and wealth by quickly paying down and eventually paying off the mortgage?  Is that a wise investment strategy to be in? The answer is it depends on: 

• How you calculate the return on investments;
• Generational and cultural differences.

Up to the sub-prime crash starting in 2006, Americans were caught up in a frenzy to build wealth through appreciation: as the value of their home increased through appreciation (increased wealth), the percentage of debt decrease with respect to their total asset portfolio.

Today, property values are depreciating.  Paying off mortgage debt can still be achieved long term by high networth individuals and even for some who are struggling to pay their mortgages. Paying off mortgage debt can be achieved in several ways including:

• Making one extra mortgage payment each year;
• Putting spare amounts of cash toward the principal;
• Using a sudden windfall, such as a tax refund, to pay off some of the debt.
• Transferring wealth from one investment to pay off mortgage debt.

Some home owners / affluent investors, typically older, strive to be mortgage-free by the time they retire.  The 2006 U.S. Census Bureau figures reports that slightly less than one-third of homeowners have no mortgage.  A University of Michigan health and retirement study showed the level of mortgage debt among retirees is, on average, only about 11 percent of their home values.  This might be attributed to the older generation having lived through some major economic hardship and/or cultural mind-set during their asset growth years to minimize debt.

On the other end of this debate is why pay off a mortgage when there are more profitable investments elsewhere.  Depending on how you crunch the numbers, this group, typically younger and influenced by the housing boom, see little downside to carrying a mortgage.  They see several advantages in carrying a mortgage include:

• Tax write-off benefit on mortgage Interest (up to $1,000,000 on 1st mortgages and another $100,000 on a Home Equity Line of Credit (HELOC) on primary and second homes.
• Tax write-off on property taxes on primary and second homes.
• Tapping equity for improvements on their home to add value, or for other higher return investments.

The tax advantage is their main argument in maintaining a higher mortgage amount and using their equity in alternative higher return investments. But, the mortgage interest component over time slowly decreases.  There comes a point at which the tax advantage disappears unless they refinance (at a cost) or the tax law that allows the deduction changes.  On the other hand, has this group invested wisely, managed their "cash" assets in other higher interest investments?  Or have they borrowed for "toys" they could not otherwise afford?  If managed well, there is the possibility of having greater net wealth at retirement.

You can find AJ Nisen on Active Rain at Contra Costa California Mortgages.  Call AJ to talk about your Mortgage, Mortgage Rates, Free Credit Report or visit AJ's website to use his mortgage calculator. 

Alan 'AJ' Nisen
Mortgage Loan Officer
AJ's Email
AJ's Mortgage Website 
AJ's ActiveRain Blog 

Lafayette is a small upscale community.  Even today, starter homes go for $800,000 or more.  There are many executives who when relocated to the Bay Area were very surprised at what they could afford to purchase in Lafayette California when compared to where they came from.

Why is Lafayette so desirable?

Lafayette California Neighborhoods.

Burton Valley is one of Lafayette's sought after areas to live.  Many of the homes are Marchant homes built in the 50's and 60's.  The Burton Valley Elementary School is located in the middle of Burton Valley.  Nearby you'll find the Rancho Colorados Swim and Tennis club, the Lafayette Community center and the Lafayette/Moraga Trail.

Happy Valley & Upper Happy Valley area is one of the most prestigious neighborhoods in Lafayette.  Happy Valley and Upper Happy Valley are saturated with luxury homes.  The area is beautify, relatively flat with abundance of old oak trees.  Happy Valley Elementary School and The Bentley School (private) are is located in this area.

Tiffany Hills, Via Roble, etc., Quail Ridge area is located next to Happy Valley area.  These are hilly locations with views of Lafayette and Mt. Diablo. 

Downtown:  From the West side of Moraga road: Boyer Circle, Oak, Dewing, Brook, etc. and the East side of Moraga road: 1^st street, 2^nd street, etc., Moraga Ave. and Moraga Blvd.  Homes in this area are close enough to downtown Lafayette, thus ideal for commuters and people who like to walk to town. Lafayette Elementary School and Stanley Intermediate School are located in this area.

Springhill, Quandt,Woodborough Area are desirable area close to Springhill Elementary and Acalanes High School.  Close by is the highly ranked Springbrook Pool Association.  These neighborhoods are minutes from the freeway and the Lafayette Bay Area Rapit Transit (BART) station.

Reliez Valley has a rural country feeling.  The rolling  hills that line Reliez Valley are abundant with trees with luxury homes hiddent into the landscape.  Most homes are located on cul-de-sacs off of Reliez Valley.  One sought after location in this area is the Silver Dell Subdivision filled with luxury homes.  Another sought after area is Baywood, another upper-end gated community filled with luxury homes.  The Baywood community is backs up to the Briones Regional Park with miles of walking trails.

Silverwood Area, located in the western area near Orinda is hilly location with many oaks.  The area is considered a great Lafayette address, close to the freeway and BART.

You can find AJ Nisen on Active Rain at Contra Costa California Mortgages.  Call AJ to talk about your Mortgage, Mortgage Rates, Free Credit Report or visit AJ's website to use his mortgage calculator. 

Alan 'AJ' Nisen
Mortgage Loan Officer
Board Member on the Lafayette Chamber of Commerce
AJ's Email
AJ's Mortgage Website 
AJ's ActiveRain Blog 

Orinda California

Orinda California is an upscale family-oriented community located 30 minutes from Downtown San Francisco and right next to Lafayette.  Orinda is in the middle of soft rolling, tree-studded hills; a sharp contrast to most urban communities.  Orinda's natural beauty, history, excellent schools, culture and proximity to all of the San Francisco Bay Area make it a much desired area to raise a family. 

Today, many of Orinda's founding family names are still familiar to the community: Glorietta, Casa Vieja, Nelson, Bryant, Miner, Lautewasser, Wagner and deLavega.   The growing number of official landmarks shows how Orindians appreciates their community's history.

Orinda's Beginning

Orinda was originally settled by the Saclan Indians, a part of the Bay Miwok Indian tribe, roughly 10,000 years ago.  The Saclans settled throughout what is now known as the Diablo Valley including what is now Lafayette and Orinda.  The Saclans were a peaceful group who lived off the land.

Life changed for the Saclans Indians with the arrival of the Spanish settlers.  The Saclans died from diseases brought by the Spanish and were forced out of the area unless they were willing to be missionized by the Catholic Church.

In 1835, the Mexican Government granted 13,326 acres, known as Rancho Laguna de los Palos Colorados, to Joaquin Moraga and Juan Bernal, Joaquin's cousin.  Joaquin Moraga built his home in 1841 on a hill just above the present day Del Rey Elementary School where it still exists.  A portion of the Rancho Laguna de los Palos Colorados land grant is now the south part of Orinda.  Orinda's northern area lies on part of a 22,000 acre land grant known as Rancho El Sobrante granted to Juan Castro in 1841. 

After the Spaniards, the era of great ranchos with their vast herds of cattle, Orinda's legacy was passed on to the American settlers who had traveled west by wagons to California, to Orinda.  Orinda became a farming community.  Ownership passed through several hands.  In 1876, William Walker Cameron and his wife, Alice Marsh (daughter of John Marsh) became the major land owners in northern Orinda.  In 1887, Jose and Miguel deLavega of San Francisco bought 1200 acres of north Orinda.  A deLavega son, E. L. , subdivided the property and established the town of Orinda in 1920.  The deLavega family is credited with much of Orinda's development and character.

There will be more to come. 

More information about Orinda and the Orinda Historical Society can be found on the web at http://www.orindahistory.org. Questions about the Orinda Historical Society may be sent to P.O. Box 82, Orinda, CA 94563 , or call  1.925.254.1353

You can find AJ Nisen on Active Rain at Contra Costa California Mortgages.  Call AJ to talk about your Mortgage, Mortgage Rates, Free Credit Report or visit AJ's website to use his mortgage calculator. 

Alan 'AJ' Nisen
Mortgage Loan Officer
Board Member on the Orinda Chamber of Commerce
AJ's Email
AJ's Mortgage Website 
AJ's ActiveRain Blog 

GSEs Fannie Mae and Freddie Mac will not Insure Mortgages that are refinance while being held in a LLC.

Real estate investors often hold investment properties in an LLC for liability protection.   Freddie Mac lending policy changes will not insure Mortgages that are refinanced while being held in an LLC at any time in the previous 6 months.

High Net Worth individuals have several options to refinance their mortgages being held in an LLC if using a Freddie Mac or Fannie Mae backed lender.

• First, if you are not planning to refinance your property in the next year, you can leave the property where it is. The LLC will continue to give you the benefits you expected when you set it up. Unless you have an ARM that really needs to be refinanced, you can stay with the same mortgage until you sell the property.
  


• Secondly, you can pull the property out of the LLC seven months before you set out to refinance it, and put the property back in after the refinance is complete. Yes, you will have liability exposure during those seven months, so make sure your insurance is paid up and get an umbrella policy.
  


• Thirdly, you can find a lender who is willing to refinance the property inside an LLC and pay the higher interest rate.  Or
  


• Fourthly, you can move the property from your LLC to a trust, with the beneficial interest in the trust held by your LLC.

Please note that real property held in trusts do not have "court proven" liability protection in the event of litigation.  Also there is a risk of personal liability exposure to the real estate investor with this fourth option.

Other Related Posts:
What or Who Are Fannie Mae and Freddie Mac?
Freddie and Fannie are Tightening Guidelines. How Can we Fight Back?

You can find AJ Nisen on Active Rain at Contra Costa California Mortgages.  Call AJ to talk about your Mortgage, Mortgage Rates, Free Credit Report or visit AJ's website to use his mortgage calculator. 

Alan 'AJ' Nisen
Mortgage Loan Officer
AJ's Email
AJ's Mortgage Website 
AJ's ActiveRain Blog 

History of Lafayette California

Lafayette is located in Contra Costa County which is a little northwest of San Francisco.  Lafayette is a still a quaint community with that small town feel.  Even so, Lafayette has grown into one of the top income per capita towns in the US as reported by CNN (#21). 

Lafayette is one of my favorite towns in the whole world.  Lafayette seems to attract people who love to volunteer.  There are many volunteer organizations in town.  One of those volunteer organizations is the Assistance League of Diablo Valley who in 1978 purchased one of Lafayette's existing pieces of history, The Way Side Inn. 

Here is a little history about this great community.

Lafayette California's Way Side Inn.

Lafayette California still has several historic buildings from it's beginnings.  One of those historic buildings is the Way Side Inn.  In an area then called Hotel Corner but now called Plaza Square (Mt Diablo Blvd. and Moraga Road), Edward J. Brady, in 1894, constructed the Way Side Inn, a hotel and tavern. The Way Side Inn was marketed as a "first class" establishment.

At the time the Way Side Inn was built, Mt. Diablo Blvd. was on the stagecoach road between Walnut Creek and Oakland.  The Way Side Inn was in a perfect location for travelers and business.  It soon became a stopping place for cattlemen driving their livestock to market.  Cowboys needed a place to clean off and of course, take advantage of the local tavern before driving their cattle over the Berkeley Oakland hills to market.  Teamsters, who hauled redwoods from Canyon to Martinez, also needed a place to stay and refresh themselves. 

Around 1910, Thomas Reed purchased the property and named it the Way Side Inn. He turned the property into a rooming house and saloon. But it was rumored that "ladies of the evening" worked upstairs.

Early Lafayette History did have a lot of color to it. 

To find more history about Lafayette California, You might like to read: 

• A Little History of Lafayette California Chapter 1.
• How Lafayette California Was Named: Chapter 2.
• The Pony Express Rides Throught Lafayette California: Chapter 3.

You can find AJ Nisen on Active Rain at Contra Costa California Mortgages.  Call AJ to talk about your Mortgage, Mortgage Rates, Free Credit Report or visit AJ's website to use his mortgage calculator. 

Alan 'AJ' Nisen
Mortgage Loan Officer
Board Member on the Lafayette Chamber of Commerce
AJ's Email
AJ's Mortgage Website 
AJ's ActiveRain Blog 

Stated Income

 As of August, 2008, guidelines for  "STATED INCOME" loans chaged.  Well, Fannie and Freddie have really pulled out the stoppers now!   

As of 08/06/2008, Freddie is not buying any Stated Income (Verified Assets) loans at all.  

Fannie is still buying any Stated Income (Verified Assets) loans but very selectively.  For example, Fannie is no longer accepting Stated Income (Verified Assets) loans over 75% CLTV or Interest Only loans period.

 I guess the "State Income" Loan has become extinct!

Other Related Posts:
What or Who Are Fannie Mae and Freddie Mac?
Freddie and Fannie are Tightening Guidelines. How Can we Fight Back?
Front-End Ratios, Back-End Ratios, What are They?

You can find AJ Nisen on Active Rain at Contra Costa California Mortgages.  Call AJ to talk about your Mortgage, Mortgage Rates, Free Credit Report or visit AJ's website to use his mortgage calculator. 

Alan 'AJ' Nisen
Mortgage Loan Officer
AJ's Email
AJ's Mortgage Website 
AJ's ActiveRain Blog 

History of Lafayette California

Lafayette is one of my favorite towns in the whole world.  One of the reasons I like Lafayette is that the community support for the businesses in town like Ed Stokes' Diablo Foods or Jesse Wellen's Lafayette Car Wash.  The slogan "Shop Lafayette" is a key part of what makes Lafayette the great community it is.

Lafayette is located in Contra Costa County which is a little northwest of San Francisco.  Lafayette is a still a quaint community with that small town feel.  Even so, Lafayette has grown into one of the top income per capita towns in the US as reported by CNN (#21). 

Here is a little history about this great community.

How The Pony Express Came to Town.

One of the most exciting bits of Western Laure was the Pony Express.  The Pony Express route started in St. Joseph, Missouri and travel 1840 miles to Sacramento, California, where the mail was placed on a steamer to San Francisco. The entire trip would take 10 days!

Twice in 1860 and at least 18 times in 1861, the Pony Express missed the boat connection (literally).  The mail had to be routed overland from Sacramento to Oakland California.  The Pony Express route took the mail through Lafayette California down Mt. Diablo Blvd.  The riders would stop at what is now the intersection of Moraga Road and Mt. Diablo Blvd to get a fresh horse.  Yes, the mail had to be delivered by the Pony Express, rain or shine and sometimes through Lafayette.

That is how The Pony Express Came to Lafayette California. 

To find more history about Lafayette California, You might like to read: 

• A Little History of Lafayette California Chapter 1.
• How Lafayette California Was Named: Chapter 2.

  

  You can find AJ Nisen on Active Rain at Contra Costa California Mortgages.  Call AJ to talk about your Mortgage, Mortgage Rates, Free Credit Report or visit AJ's website to use his mortgage calculator. 
  
  Alan 'AJ' Nisen
  Mortgage Loan Officer
  Board Member on the Lafayette Chamber of Commerce
  AJ's Email
  AJ's Mortgage Website 
  AJ's ActiveRain Blog